Wells Fargo Sticks to Its Hold Rating for Clorox (CLX)

By Ryan Adsit

Wells Fargo analyst Bonnie Herzog maintained a Hold rating on Clorox (CLXResearch Report) today and set a price target of $153. The company’s shares closed yesterday at $155.24.

Herzog noted:

“We think the next few quarters could be choppy until CLX laps significant pricing & works through issues in Trash Bags/Wipes and therefore expect shares to remain range-bound n.t. We maintain our Market Perform rating.”

According to TipRanks.com, Herzog is a 3-star analyst with an average return of 3.1% and a 61.2% success rate. Herzog covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners plc, The Estée Lauder Companies Inc, and Constellation Brands Inc.

Currently, the analyst consensus on Clorox is a Hold with an average price target of $151.83.

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Based on Clorox’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.55 billion and net profit of $187 million. In comparison, last year the company earned revenue of $1.69 billion and had a net profit of $217 million.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock.

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The Clorox Co. engages in the manufacture and marketing of consumer and institutional products. It operates through the following business segments: Cleaning, Lifestyle, Household, International, and Corporate. The Cleaning segment consists of laundry, home care, and professional products marketed and sold in the United States.